FORT WORTH — Multifamily developer Wood Partners has opened Alta Champions Circle, a 285-unit community in Fort Worth. The property is located near the recently completed Tanger Outlet Fort Worth and the Texas Motor Speedway. Floor plans include one-, two- and three-bedroom units with full-size washers and dryers and private yards in select units. Amenities include a pool with a tanning deck, fitness center, micro offices, indoor party room, a pet park and outdoor grilling stations.
OAK PARK, ILL. — Joseph J. Duffy Co. is set to break ground on a new four-story, 37-unit affordable housing project in Oak Park. An official groundbreaking ceremony will take place on Monday, Feb. 10. The project will be situated on a vacant lot at the corner of Oak Park Avenue and Van Buren Street. The ground floor will house approximately 900 square feet of commercial space plus bicycle storage. Plans also call for a 28-car parking area, an outdoor roof terrace and a multipurpose room. Nonprofit real estate developer The Community Builders is the developer and DesignBridge Ltd. is the architect.
SCOTTSDALE, ARIZ. — The Davies Group at Los Angeles-based George Smith Partners arranged a total of $56 million in structured financing on behalf of Opwest Partners for its development of Scottsdale Curio, a lifestyle hotel in Scottsdale. The financing comprised a $20 million placement of joint venture equity from Argosy Real Estate Partners and $36 million of senior construction debt from Wells Fargo Bank. Malcolm Davies, Zachary Streit, Evan Kinne, Alexander Rossinsky, Rachael Lewis and Aiden Moran of George Smith Partners sourced the financing for Opwest. Located at 7501 E. Camelback Road, the six-story, 97,058-square-foot hotel will feature 169 guest rooms, a subterranean parking garage, restaurant, lounge, indoor/outdoor fitness center, and amenity deck with pool and bar. Construction is slated to begin this summer.
BOSTON — Samuel Adams has opened a 14,000-square-foot brewery and taproom in Boston’s Faneuil Hall Marketplace. The brewery will serve as an experimental facility for specialty brews. Along with Samuel Adams’ year-round beer roster, guests can taste taproom-exclusive offerings and share feedback directly with the brewers. The taproom will feature three bar floors with large community tables and a rooftop patio. The Boston Beer Co. owns the Samuel Adams brands. Bergmeyer Associates Inc. designed the space, and Gilbane Building Co. constructed it.
BELMONT, N.C. — Armada Hoffler Properties Inc., along with John and Jennifer Church, and Shane Seagle of North State Development, will redevelop Chronicle Mill in Belmont. Chronicle Mill was built in 1901 as the city’s first textile mill and remained operational until 2010. The partnership will redevelop the existing building into apartments, retail and amenity space. A new five-story apartment building will also be built on the seven-acre site. Upon completion, the mixed-use community will include 240 one- and two-bedroom apartment units and 9,000 square feet of commercial space. Armada Hoffler Construction Co., a wholly owned subsidiary of Armada Hoffler Properties, will serve as the general contractor and BB+M is the architect. Developers expect to break ground in the second quarter of this year. Total redevelopment and construction costs for the Chronicle Mill project are expected to total $45 million, with expected completion in fall 2021. The Churches purchased the mill in 2013 and have been pursuing redevelopment options for the property ever since. The couple owns and develops commercial real estate in Gaston County and has managed and leased retail, office, hotel and industrial properties. Late last year, Belmont City Council members approved a conditional zoning district that will …
PERRIS, CALIF. — Dedeaux Properties has purchased an industrial-zoned, 9.6-acre land parcel, located at 5150 Walnut Ave. in Perris, for $2.2 million in an off-market transaction. The company plans to develop an industrial facility on the site. Cody Lerner and Stan Nowak of Avison Young’s Ontario, Calif., office represented the buyer and the seller, a private entity, in the deal. The planned 205,000-square-foot facility will include office space, 36-foot clear heights, 28 docks and parking for 42 trailers.
ADDISON, TEXAS — Northwood Retail will reposition Prestonwood Place, a 133,000-square-foot retail center located at the corner of Beltline and Montfort streets in Addison, a northern suburb of Dallas. The project will convert part of the center into 50,000 square feet of office space, upgrade building façades and add a 15,000-square-foot park. Additional improvements will include reconfigured parking lots, new pedestrian walkways and refreshed landscaping. Construction will occur in four phases, with the overall completion slated for early 2021. Northwood Retail is based in Dallas and is an affiliate of Northwood Investors, a privately held investment firm that was founded in 2006 by former Blackstone executive John Kukral.
RALEIGH, N.C. — Park Center East LLC, a partnership between KDC and Research Triangle Foundation of North Carolina, will develop Hub RTP within Research Triangle Park. Hub RTP will include 300-foot high buildings, the only high-rise buildings within Research Triangle Park. Phase I will be situated on 43 acres on the east side of the property and include the 1 million square feet of office space, as well as at least one hotel with up to 375 rooms, 850 residential units and 150,000 square feet of retail space. Future phases could total 6 million square feet. A timeline for completion was not disclosed.
ITHACA, N.Y. — A partnership between Lambrou Real Estate and Bridges Development Group will develop City Harbor, a 218,000-square-foot mixed-use development in the Upstate New York city of Ithaca. The property will be located at 101 Pier Road, formerly the site of Johnson Boat Yard, on the southern shore of Finger Lake. A multifamily component of the project will feature 158,000 square feet of residential space with 156 one- and two-bedroom units, a fitness center, restaurant and other amenities. The project will also feature a 60,000-square-foot medical building and a 1,700-foot shoreline promenade. HOLT Architects is designing the project, and Edger Enterprises Inc. is the general contractor. The development team expects to break ground in May and to complete the first phase about 18 months later.
FRISCO, TEXAS — VanTrust Real Estate will develop The Offices Three at Frisco Station, a 210,000-square-foot office building located within the 242-acre Frisco Station mixed-use development north of Dallas. Construction of the six-story, speculative building will begin this week and is expected to be complete in 2021. Amenities will include structured parking, a fitness center, conference center and a tenant lounge. VanTrust previously developed Offices One at Frisco Station, which is 98 percent leased, and has completed shell construction of Offices Two at Frisco Station, which is 35 percent preleased. HKS Inc. is the project architect, and Manhattan Construction is the general contractor. Cushman & Wakefield will handle leasing.
